TOKYO—Hoya Corp. (TOKYO:7741) posted record annual sales of 505,714 million yen for the full-year ended March 31, 2016, despite a lackluster fourth quarter. During the quarter, revenues decreased by 4.5 percent to 121,666 million yen, year on year. Pre-tax profit for the quarter was 23,161 million yen, while profit for the quarter was 18,493 million yen, both of which showed a decline of 8.5 percent and 0.1 percent, respectively, due partially to the reporting of 3,100 million yen in foreign exchange losses, Hoya said.

In its Life Care business segment, Hoya reported that although sales of eyeglass lenses grew in overseas markets, revenues were slightly below the previous year because of the impact of foreign currency fluctuations. Sales of medical endoscopes were weak, but sales of intraocular lenses business showed substantially higher sales above the previous year.

For the fiscal year ended March 31, 2016, revenues totaled 505,714 million yen, up 3.2 percent year on year. Pre-tax profit was 119,099 million yen and profit for the term was 93,317 million yen, a slight increase of 0.7 percent and 0.4 percent respectively, year on year.

"We are taking necessary measures to generate profit even in shrinking markets of the Information Technology segment,” said Hiroshi Suzuki, chief executive officer of Hoya. “As for the Life Care segment, eyeglass lenses business in Asia and endoscopes business in North America was dragging on overall performance, but these are expected to improve this year, and contribute to the group’s growth.”

Hoya said it is making progress in expanding sales of the eyeglass lenses business in overseas markets, but because of the impact of foreign currency fluctuations, sales were slightly below the previous year. Sales in the contact lens business continued to be firm and increased over the previous fiscal year.

In the medical related products business, sales of intraocular lenses (IOL) in the cataract surgery business rose both in Japan and in overseas markets, and the business showed substantially higher sales above the previous year. As a result, sales of the Life Care segment as a whole were at about the same level as in the previous fiscal year.

Hoya said the introduction of new IOL products proceeded well and sales expanded steadily, resulting in a substantial rise in sales above the previous year, pushing sales of the Life Care segment to 80,942 million yen for the three months ended March 31, 2016, about the same as in the previous year. Segment profit was 13,668 million yen, 2.7 percent above the previous year. Health care-related products accounted for 60,658 million yen, up 0.7 over year-ago and medical-related products accounted for 20, 285 in revenue, down 2.6 percent from year-ago.

For the year ended March 31, 2016, Hoya’s Life Care segment generated 322,673 million yen in revenue, up 5.2 percent versus year-ago. Health care-related products accounted for 241, 296 million yen in revenue, up 6.1 over year-ago; medical-related products accounted for 81,378 million yen in revenue, up 2.6 percent from year-ago.